AngloGold Ashanti (NYSE:AU) Rating Increased to Sector Outperform at Scotiabank

Key Points

• AngloGold Ashanti has been upgraded to a sector outperform rating by Scotiabank, with a price target of $90.00, indicating a potential upside of 35.31% from its previous close.
• Despite the upgrade, analysts have mixed opinions, with four maintaining a Buy rating, while one analyst issued a Sell rating, contributing to a consensus rating of Hold.
• The company's recent earnings report showed an EPS of $1.25, missing expectations, but revenue of $2.45 billion exceeded analyst estimates of $2.29 billion.

AngloGold Ashanti (NYSE:AU - Get Free Report) was upgraded by investment analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $90.00 price target on the mining company's stock. Scotiabank's price objective points to a potential upside of 35.31% from the stock's previous close.

Several other equities research analysts have also recently issued reports on AU. Weiss Ratings reissued a "hold (c+)" rating on shares of AngloGold Ashanti in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of AngloGold Ashanti from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded AngloGold Ashanti from a "hold" rating to a "buy" rating in a report on Friday, September 26th. HSBC restated a "reduce" rating and set a $55.00 price objective on shares of AngloGold Ashanti in a report on Thursday, October 9th. Finally, Zacks Research raised AngloGold Ashanti from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $65.00.

AngloGold Ashanti Trading Down 0.4%

Shares of AngloGold Ashanti stock opened at $66.52 on Thursday. AngloGold Ashanti has a fifty-two week low of $22.45 and a fifty-two week high of $79.94. The firm has a market cap of $27.92 billion, a PE ratio of 17.69 and a beta of 0.53. The business's fifty day moving average is $65.00 and its two-hundred day moving average is $52.30. The company has a quick ratio of 2.22, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

AngloGold Ashanti (NYSE:AU - Get Free Report) last released its earnings results on Friday, August 1st. The mining company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.29 billion. AngloGold Ashanti had a net margin of 23.60% and a return on equity of 22.54%. Analysts anticipate that AngloGold Ashanti will post 3.83 earnings per share for the current year.

Institutional Trading of AngloGold Ashanti

A number of institutional investors have recently added to or reduced their stakes in AU. Acadian Asset Management LLC acquired a new position in shares of AngloGold Ashanti during the first quarter worth about $5,538,000. Forefront Wealth Management Inc. raised its holdings in shares of AngloGold Ashanti by 46.8% during the 2nd quarter. Forefront Wealth Management Inc. now owns 56,545 shares of the mining company's stock valued at $2,577,000 after buying an additional 18,016 shares during the period. U S Global Investors Inc. raised its holdings in shares of AngloGold Ashanti by 8.3% during the 2nd quarter. U S Global Investors Inc. now owns 65,000 shares of the mining company's stock valued at $2,962,000 after buying an additional 5,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AngloGold Ashanti by 7.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 662,163 shares of the mining company's stock valued at $24,579,000 after buying an additional 48,274 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of AngloGold Ashanti during the 1st quarter valued at about $312,000. 36.09% of the stock is owned by hedge funds and other institutional investors.

AngloGold Ashanti Company Profile

AngloGold Ashanti plc operates as a gold mining company in Africa, Australia, and the Americas. The company primarily explores for gold, as well as produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.

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